06-26-14 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Regular Meeting—June 26, 2014 6. NEW BUSINESS (CONT.) C. West Washington-Chapin Development Area There was no business in the West Washington-Chapin Development Area. D. South Side Development Area (1) Resolution No. 3218 determining that the tax increment for Erskine Village to be collected in the Year 2015 may be allocated to the respective taxing units and other related matters. Ms. Leonard noted that staff intends to pay off the debt on the bond for the South Side Allocation Area No. 3 as soon as we are allowed to, in 2017. We already have enough cash on hand to make the remaining payments, so we are releasing the TIF for the use of the other taxing jurisdictions in 2015. State law requires the other jurisdictions to be notified of the TIF's availability by June 14 of each year. This year,the Common Council must also approve the release of TIF by that June 14 deadline. Upon a motion by Mr. Downes, seconded by Mr. Inks and unanimously carried, the Commission approved Resolution No. 3218 determining that the tax increment for Erskine Village to be collected in the Year 2015 may be allocated to the respective taxing units and other related matters. E. Northeast Neighborhood Development Area There was no business in the Northeast Neighborhood Development Area. F. Douglas Road Development Area There was no business in the Douglas Road Development Area. G. Ratification of Services Contracts Commission Role in Contract Staff Transaction Contractor Service Provided Amount Member 802-812 S. Lafayette Disposition R. E. Pitts Appraisal $825 Relos 802-812 S. Lafayette Disposition Steve Sante Appraisal $750 Relos Upon a motion by Mr. Downes, seconded by Mr. Inks and unanimously carried,the Commission ratified the Services Contracts approved by staff since the May 29, 2014 meeting. 9